Buying Properties in Cyprus

Individuals of foreign nationality are given permission to acquire one of the following: an apartment or house or a building plot of land up to three donums (4,014m2). Offshore entities may also acquire premises for their business (with restrictions) or as a residence for their foreign employees. Provided the residence is registered in the employee?s name. Please note that properties in Cyprus are freehold- the leasehold system is virtually unknown. After signing a contract of sale, non-Cypriots must apply to the Council of Ministers for permission to acquire property on the island. This procedure is merely a formality and can be easily carried out for you by our associated law firm or any other solicitor of your choice.